According to this report, Marvel Studios and Sony Pictures have "hit an impasse on new financing terms” but doesn't indicate that either party has walked away from the negotiating table entirely. Variety even notes that one source indicates that there could still be a deal between Disney, which owns Marvel, and Sony, something that may offer a bit of hope for fans who are already very upset about the situation.

At issue appears to be what Disney wants from a new deal with Sony when it comes to Spider-Man films. The current arrangement between the studios is that Marvel receives about 5% of first-dollar gross of the Spider-Man film. But given that Spider-Man: Far From Homerecently became Sony Pictures' highest-grossing film ever at the worldwide with $1.110 billion, it looks like Disney wants a bit more of the pie and is now asking for a 50/50 split -- a pretty dramatic shift from the current arrangement. It's generally the same situation Deadline reported earlier today, though in their report, Sony turned down the offer outright without so much as a counteroffer.

If Marvel and Sony are ultimately unable to come to an agreement (or if the Deadline report is accurate and discussion is off entirely) it will be a major loss for the Marvel Cinematic Universe. Spider-Man is arguably the most popular individual hero in Marvel's lineup. The character has also been a major element of the MCU in recent years, with the character's relationship with Tony Stark/Iron Man being very much an emotional touchstone -- particularly thanks to Avengers: Infinity War. That said, while it would certainly be a bit of a shuffle to deal with the sudden lack of access to Spider-Man, Disney's recent purchase of 20th Century Fox has opened up a lot of story potential with the Fantastic Four and the X-Men.

Keep checking back with ComicBook.com for further updates on the Marvel/Sony Spider-Man situation as they develop.

Upcoming Marvel Studios projects include Black Widow on May 1, 2020, The Falcon and The Winter Soldier in fall 2020, The Eternals on November 6, 2020, Shang-Chi and the Legend of the Ten Rings on February 12, 2021, WandaVision in spring 2021, Loki in spring 2021, Doctor Strange in the Multiverse of Madness on May 7, 2021, What If? In summer 2021, Hawkeye in fall 2021, and Thor: Love and Thunder on November 5, 2021.